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HUD and FHFA Increase Transparency in Home Appraisals

Appraisal Buzz

Department of Housing & Urban Development (HUD) have released new appraisal data from loan applications on single-family mortgages submitted to HUD’s Federal Housing Administration (FHA). The appraisal-level PUF for FHA-insured mortgages contains details on approximately 266,000 single-family appraisals conducted from 2017 through 2022.

Appraisal 409
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Opinion: Rethinking the FHA mortgage insurance premium

Housing Wire

In 2013, the Federal Housing Administration (FHA) began requiring borrowers to pay the Mortgage Insurance Premium (MIP) for the life of an FHA loan. People have equated FHA insurance to that of private mortgage insurance used by the government-sponsored enterprises (GSEs), which is not life-of-loan.

Insurance 366
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Floify’s new platform aims to provide flexible pricing for mortgage lenders

Housing Wire

Configured to give independent mortgage banks, federally insured banks and credit unions the needed tools at an accessible price point, Floify Lender Edition aims to increase lender profitability through its automated processes and efficiency tools, the company said. .” Founded in 2013, Floify — a subsidiary of Porch Group Inc. —

Mortgage 410
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Opinion: Setting the record straight on mortgage pricing

Housing Wire

80% LTVs (no mortgage insurance required) and 80.01-85% 85% LTVs (with mortgage insurance) by credit score. As the FHFA pointed out, the current grids were developed some time ago and might reflect mortgage performance from a less benign economic environment than today.

Mortgage 425
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CHLA and 41 IMBs urge the FHA to cut MI premiums

Housing Wire

The Community Home Lenders Association (CHLA) sent a letter, signed by 41 independent mortgage banks, to the Federal Housing Administration (FHA) on Wednesday urging the administration to cut mortgage insurance premiums. We will continue to be judicious about if, when, and how we consider changes to FHA’s mortgage insurance premiums.”.

Insurance 440
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FHA proposes updates to reverse mortgage debenture interest rates

Housing Wire

In a final rule titled “Strengthening the Home Equity Conversion Mortgage Program,” FHA codified several significant changes to the HECM program that were previously issued by HUD under the Housing and Economic Recovery Act (HERA) of 2008 and the Reverse Mortgage Stabilization Act of 2013. But the U.S.

Mortgage 353
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FHFA Establishes Affordable Housing Committee

Appraisal Buzz

Still , Vice Chair, Pulte Financial Services Sheri Thompson , EVP, Head of Affordable Housing, Walker & Dunlop Eileen Tu , VP, Mortgage Policy and Credit Development, Rocket Mortgage John Wiechmann , President/CEO, Midwest Housing Equity Group Inc.